Daniel Jennings writes for Wealthy Debates, April 4, 2014, that despite all the talk from the Obama administration and the MSM about a “recovering” economy, a retail tsunami shows the U.S. economy to be in trouble. Recent news stories show that American retail is in dire straits. Here are 16 big retail companies that have closed or will close stores soon:
- Office supply company Staples has announced plans to close 225 stores by 2015, which is about 15% of its chain. Staples already closed 40 stores last year.
- Office Depot, Staples’ main competitor which bought Office Max last year, isn’t in good shape either. Industry analysts expect Office Depot to announce its own round of store closings soon.
- Radio Shack has announced plans to close 20% of its stores or as many as 1,100 stores this year. The company, which operates around 4,000 stores, reported that its sales fell by 19% last year….more